https://www.miningweekly.com

Glencore Finance extends, increases Katanga loan facilities

27th November 2014

By: Leandi Kolver

Creamer Media Deputy Editor

  

Font size: - +

JOHANNESBURG (miningweekly.com) – TSX-listed Katanga Mining on Wednesday announced the execution of extended and increased loan facilities with Glencore Finance.

Katanga said the maturity date of its existing term loan facility agreement with Glencore Finance, which had been used to fund, in substantial part, the redemption of Katanga’s C$125-million 14% debentures on December 30, 2011, had been extended to January 1, 2021.

Further, the existing senior secured credit facility agreement between, besides others, a Katanga subsidiary – as borrower – Katanga and other Katanga subsidiaries as guarantors, and Glencore Finance had been increased and extended.

The senior facility had been increased to $2.97-billion, including the existing $515.5-million senior facility, plus accrued interest thereon, as well as all outstanding Glencore International prepayments to Katanga's subsidiary, Kamoto Copper Company (KCC) plus accumulated interest thereon.

Also included in the total amount of the amended senior facility was further funding of up to $50-million that would be made available according to the cash flow requirements of KCC, based on the approved budgets for its Phase 5 expansion and a related power project.

The maturity of the senior facility had also been extended to January 1, 2021, while all other material terms of the facility remained the same.

The drawdown of the increased senior facility remains subject to the satisfaction of certain conditions precedent.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Yale Lifting Solutions
Yale Lifting Solutions

Yale Lifting Solutions is a leading supplier of lifting and material handling equipment in Southern Africa. Yale offers a wide range of quality...

VISIT SHOWROOM 
Alco-Safe

Developed to exceed the latest EN 15964 standards for police breathalysers proving that it will remain accurate and reliable for many years to come.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 19 April 2024
Magazine round up | 19 April 2024
19th April 2024
Resources Watch
Resources Watch
17th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.079 0.117s - 107pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: